LYQ2.DE vs. H4ZK.DE
LYQ2.DE (Amundi Euro Government Bond 1-3Y UCITS ETF Acc) and H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) are both European Government Bonds funds - LYQ2.DE tracks the Bloomberg Euro Treasury 50bn 1-3 Year Bond while H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. Both are passively managed. Over the past year, LYQ2.DE returned 0.65% vs 0.79% for H4ZK.DE. At a 0.49 correlation, their price movements are largely independent. LYQ2.DE charges 0.17%/yr vs 0.14%/yr for H4ZK.DE.
Performance
LYQ2.DE vs. H4ZK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, LYQ2.DE achieves a 0.09% return, which is significantly lower than H4ZK.DE's 0.20% return.
LYQ2.DE
- 1D
- -0.03%
- 1M
- -0.17%
- 6M
- -0.06%
- YTD
- 0.09%
- 1Y
- 0.65%
- 3Y*
- 2.58%
- 5Y*
- 0.57%
- 10Y*
- 0.10%
H4ZK.DE
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 0.10%
- YTD
- 0.20%
- 1Y
- 0.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LYQ2.DE vs. H4ZK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
LYQ2.DE Amundi Euro Government Bond 1-3Y UCITS ETF Acc | 0.09% | 2.27% |
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.20% | 2.30% |
Correlation
The correlation between LYQ2.DE and H4ZK.DE is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.49 |
The correlation between LYQ2.DE and H4ZK.DE shifts across timeframes, from 0.39 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LYQ2.DE vs. H4ZK.DE — Risk / Return Rank
LYQ2.DE
H4ZK.DE
LYQ2.DE vs. H4ZK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Euro Government Bond 1-3Y UCITS ETF Acc (LYQ2.DE) and HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| LYQ2.DE | H4ZK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.13 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 0.62 | -0.09 |
| Martin ratioReturn relative to average drawdown | 1.57 | 2.06 | -0.49 |
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Drawdowns
LYQ2.DE vs. H4ZK.DE - Drawdown Comparison
The maximum LYQ2.DE drawdown since its inception was -7.75%, which is greater than H4ZK.DE's maximum drawdown of -1.26%. Use the drawdown chart below to compare losses from any high point for LYQ2.DE and H4ZK.DE.
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Drawdown Indicators
| LYQ2.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.75% | -1.26% | -6.49% |
Max Drawdown (1Y)Largest decline over 1 year | -1.22% | -1.26% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -1.22% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -6.02% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -7.69% | — | — |
Current DrawdownCurrent decline from peak | -0.48% | -0.29% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -1.28% | -0.19% | -1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 0.38% | +0.03% |
Volatility
LYQ2.DE vs. H4ZK.DE - Volatility Comparison
The current volatility for Amundi Euro Government Bond 1-3Y UCITS ETF Acc (LYQ2.DE) is 0.34%, while HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) has a volatility of 0.40%. This indicates that LYQ2.DE experiences smaller price fluctuations and is considered to be less risky than H4ZK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LYQ2.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 0.40% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 1.17% | 1.23% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.30% | 1.38% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.66% | 1.39% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.32% | 1.39% | -0.07% |
LYQ2.DE vs. H4ZK.DE - Expense Ratio Comparison
LYQ2.DE has a 0.17% expense ratio, which is higher than H4ZK.DE's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
LYQ2.DE vs. H4ZK.DE - Dividend Comparison
Neither LYQ2.DE nor H4ZK.DE has paid dividends to shareholders.
Frequently Asked Questions
LYQ2.DE and H4ZK.DE have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZK.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZK.DE is cheaper with a 0.14% expense ratio, compared with 0.17% for LYQ2.DE.
LYQ2.DE tracks Bloomberg Euro Treasury 50bn 1-3 Year Bond, while H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. They also come from different issuers: Amundi and HSBC. Their fees differ too: 0.17% for LYQ2.DE and 0.14% for H4ZK.DE.
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